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the wrong way. the economy slinks bringing on fears of a new recession. this is "special report." ♪ ♪ >> bret: good evening. i'm bret baier. hard slap in the face tonight from reality. economy thought to be improving shocked experts and shrank in the final months of last year. huge falloff from gain last summer. white house correspondent wendell goler with an explanation and reaction. >> less than two weeks after the president said in the second inaugural address that an economic recovery had begun, the commerce department said not so fast. the biggest drop in defense spending in 40 years combined with a decline in exports and slow growth in company stock piles slashed economic growth from 3.1% in the third quarter to minus 1/10th in the fourth. first negative quarter since 2009. white house downplayed the report and gave the republicans part of the blame. >> home prices are starting to climb back. consumer confidence overall has been rising and consumer spending is rising. but there is more work to do. our economy is facing a major head wind that goes to your point. republi
of this administration. it's the norm because the economy collapsed. we all remember that the economy collapsed. and to withdraw federal spending from a collapsing economy is only to make things worse. the economic collapse created these deficits, and as the economy recovers, we can draw this will down. now, there's not aagreement on that. some have preached austerity as the way forward when the economy coul lapses. -- collapses of the and when this withstand, there was lively debate between those who support that would be more sensible than austerity. we're past us a started and now into experience much the experience of foreign countries belies that austerity works when economies are collapse ago. from spain to greece, european countries that responded to the economic downturn by slashing their budgets are suffering from shrinking economies and persistent double-digit unemployment rates. a recent i.m.f. report estimates that budget austerity in a weak economy might actually inflict significant harm and have a much lower-than-expected effect on the deficit, consistent with the observations in
's economy. david cay johnston on today's troubling gdp report. >>> bobby jindal breaks his own rule. >> we've got to stop being the stupid party. >> find out how the poor in his state are about to start suffering on friday. >>> and brand-new polling proves again that we're living in a center-left country. tonight i'll tell you why it's up to one person to keep it that way. good to have you with us tonight, folks. thanks for watching. an emotional scene on capitol hill today. former congresswoman gabrielle giffords returned to congress for a senate hearing on gun violence. two years ago, giffords was shot in the head during a shooting spree that killed six people in tucson, arizona. the 71 words gifford spoke today did not come easy for her. but her message is one every american needs to hear. >> thank you for inviting me. here today. this is an important conversation for our children, for our communities, for democrats and republicans. speaking is difficult, but i need to say something important. violence is a big problem. too many children are dying. too many children. we must do somethin
a new set of challenges after the commerce department reported yesterday that the nation's economy shrank for the first time since the great recession. >> how did that happen? >> well, government data shows the gross domestic product contracted at a .1% rate in the fourth quarter of 2012. it was the first decline since 2009. it put the white house on the defensive after months of touting steady job growth. >> there's more work to do, and our economy is facing a major headwind which goes to your point, and that's republicans in congress. talk about letting the sequester kick in, as though that were an acceptable thing belies where republicans were on this issue not that long ago, and it makes clear, again, that this is political brinksmanship of the kind that results in one primary victim, and that's american taxpayers, the american middle class. >> okay. what do you think is going on there, joe? >> i think what's going on is that we have spent more money as a government over the past four years than we have in the history of the republic. added $6 trillion in debt. and we have just
of 2009 was sparked by the fact that it was a rigged election, an illegitimate economy. the clip i wanted you to show was the one in which he was asked about the policy of containment. it was not a badgering issue. he said he supports the administration's policy of containment. he then gets a note and said, i have been told i made a mistake. of course, i am not in support of that. the policy of this administration on containment is that it does not have a policy. at which point, democratic senator levin had to rescue him and said, in fact, the administration has a policy on containment, and it is to oppose it. he was clueless. >> colby. clueless? >> he was in the position where he had to dodge a little bit. let's go back to the exchange with senator mccain on the surge. the issue was never the surge when you talk about iraq. the issue was, as senator nelson from florida framed it, going into iraq, because we thought their weapons of mass destruction. we end up with 4000 americans dead, $1.90 trillion from the war, and you tell me the issue is the surge? the issue was going into the countr
. >>> in his weekly address, president obama gave an upbeat outlook for the economy this year. >> we are poised to grow in 2013. the real signs of progress, home prices are starting to climb again. sales are at a five-year high. manufacturing is roaring back. businesses created $2.2 million jobs last year. we just learned our economy created more jobs over the past few months than originally thought. >> joining me is elijah cummings. sir, nice to see you. thanks for joining me. it was a mixed bag for the economy. the gdp detracted but there were good numbers in the report. listening to the president, he sounded optimistic. how do you see the economy? >> i see the economy as being fragile. but definitely moving in the right direction. alex, it's why we have to be so careful with regard to what we do in congress. a lot of the problems that could come about with regard to gdp is a result of the public and business feeling a certain level of uncertainty. we have to make -- we have to do what we are supposed to do in congress, come to reasonable decisions. we have to have some cuts. those cuts have
of the blackberry ten later in the show. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? constipated? yeah. mm. some laxatives like dulcolax can cause cramps. but phillips' caplets don't. they have magnesium. for effective relief of occasional con
that but that is the point, getting rid of the shadow economy, the shadowow estence. getting these folks on the path to citizenship. if you know anybody who has been here initially illegally, youu know even when they get a green card, their entirire existence is devoted to getting citizenship. a green card is not their only desire. >> what about senator sessions' point about thehe unlawful flow of people into the country? >> the way we always have, and we have got much better. if you look at the n numbers of people who are caught at t -- some of this petition is due to the economy but a great deal of it is not. you just have to look to the resources we have put in and the successes. at som point, it is case of diminishing returns. you cannot makit like east berlin on the border.. itit is too big of a border. we cannot do that. but you can be very tough about it. >> all you need to stem the flow of immigration is an economy like the one we had this country for the fst 10 years iin the 21st century. that will do it. the idea of coming to share in americican prosperity and was quickly dashed. let's be
's the time to do this so we can strengthen our economy. and strengthen our country's future. think about it. we define ourselves as a nation of immigrants. that's who we are in our bones. the promise we see in those who come here from every corner of the globe, that's always been one of our greatest strengths. it keeps our workforce young. it keeps our country on the cutting edge. and it's helped build the greatest economic engine the world has ever known. after all, immigrants help start businesses like google and yaho yahoo!. they created new industries that created new jobs and new prosperity for our citizens. in recent years, one in four high-tech start-ups in america were founded by immigrants. one in four new small business owners were immigrants including right here in nevada. folks who came here seeking opportunity and now want to share that opportunity with other americans. but we all know that today we have an immigration system that's out of date and badly broken. a system that's holding us back instead of helping us grow our economy and strengthen our middle class. right now, we
enforcement in the 1970's, the men and women in the academy and then when they are out of the economy, the men and women are retrained on a monthly basis. they go to training. they go to the gun range. they are marksman. we have men and women that never pulled a service revolver. there has to be -- we do have gun-control in california. i do believe it does help, it really does help. i commend our senators and our president. newtown is a tragedy, a travesty. i have a granddaughter and there are young children who are our relatives. it does not make a difference. it could be young or old. we had a gentleman -- or rather a murderer from orange county, riverside county rather, the law enforcement gathered together. they were very emboldened and the economy in san diego. it tooks swap teams probably seven hours to get this man out. he had broken into a house and stole 30 guns, besides being a wanted murder. they did get him. i am proud of our men and women here in california. host: one more question. if the congress could do one thing, what would you like to see them do? caller: i would like to see
. you know, the average investor is seeing the economy make small improvements. we're seeing improvements in the housing market, consumer spending is going up. i spoke with one trader who was a little concerned that this is an artificial rally system littlit stimulated by the fed. >> you can say we have already been here. but you can say we came from the depths of despair, we're much higher but the thing that will cause people to continue to to be concerned is it still ahead of itself. is there a correction coming because the fed created this -- manufactured this rally. >> but, brooke, you know, think of the stock market as a big old rubber band. as much as it went down in 2009, march of 2009, the low for the dow was 6500, now we're seeing it bounce back almost to 14,000. you know how that is. what goes up, i don't want to say it, brooke. >> darn that economic gravity. alison kosik, thank you very much. we want to keep talking about this. we were thinking why doesn't wall street match what we're seeing on main street. we'll talk about that with steven moore, wall street journ
about the economy and how it potentially could impact the president's political strength this year going into his second term. 157,000 jobs created in january. you take a look at the -- a lot of jobs created last year. still not moving. the economic growth as much as should -- but if you take a look at the jobs that have been created, you take a look at the dow jones. 14,000, it was under 7,000 when he attack office. how much of a political impact will it have on the president going forward on the agenda? >> i think it is a reminder how the dysfunction in congress could hurt the country going forward. we're not out of this yet, wolf. nothing is robust, as you look at the question of spending cuts, what are you going to do? i think this serves as a reminder that congress needs to get something done. it is just hanging out there. >> you know, it is a low-grade fever, the president is moving very aggressively on his agenda, on immigration, on guns, on the contraception ruling that came out this week. he is speaking on the new coalition -- without economic growth, i mean, that is really the
's not as if latinos say immigration is my top issue, the economy is their top issue. if they don't do this, republicans could make themselves the minority party for the next generation. >> two things, one is this is not -- we're not going to deport the people who are already here. we're not actually going to reverse this. the fact of immigration is going to happen, the question about what we'll do about border control, some of that in these proposals but in any case that's almost a separate issue. one is regularizing the status of people here, basically making them legal, bringing them under labor law, all of that, how could you really be against that? it's, you know, got to be good for everybody to do that. the republican party has a problem. the leadership understands that they cannot -- they're doomed if they are only the party of old white people, to put it bluntly. the problem is their base is old white people, and so the rank and file, which answers to base, which doesn't fear democrats but does fear tea party challengers may not go along, but this is clearly -- there's no possible -
. look what is going on in the u.s. economy because we got brand new jobs numbers that just came out and they show sluggish hiring in the month of january. the labor department reported that the national unemployment rate jumped a little bit, now 7.9% up from 7.8% from the previous month. that doesn't really include people who decided they wouldn't look for work anymore and dropped out of the workforce for the time-being. the latest report showed employers added 15,000 jobs last month, not enough to really stimulate the economy -- 157,000. or create a new jobs growth picture. bring in fox business network senior correspondent charles gasparino. what is your take on these? >> not uniformly terrible. we added jobs in prior months. revised some of the job additions upward. we did create jobs but what i will tell you is carry about this number the narrative remains the same. this is an extremely slow-growing economy that is producing jobs at a very meager rate. when more people look for jobs unemployment ticks up. a quirk in the numbers. takes too long to explain why. the narrative, mart
on that hostage situation. we switch gears to talk about the u.s. economy and it shrank a tenth of a percent, the first time in three and a half years. >>> thousands of residents are in the dark of severe storms and help is on the way for millions impacted by hurricane sandy. president obama signing a $55 billion aid package in emergency relief. in syria, an unprecedented mass murder much civilians, the bodies of 65 people found near a river, some with their hands tied behind their backs. >>> toyota is recalling 1 million of its kroel las and lexus sedans manufactured between 2001 and 2004 because the air bags can improperly inflate. in japan, a major airliner is reporting it replaced batteries of dreamliner jet liner ten times before they were gounded earlier this month. >>> another black eye for baseball. new york yankees star alex rodriguez is among seven major leaguers who bought performance enhancing drugs as recently as last year. >>> we want to take you back to the big story we've been following this morning. the committee hearing taking place on what to do about gun violence in ameri
out the bubbly just yet. we got word the economy shrunk for the first time in 3 1/2 years. stuart varney will make sense of all this. he is anchor of "varney & company" on the fox business network. stuart, what do you make of that. >> it is not always true that economic performance is directly mirrored on the stock market. in fact you have a classic example today. let me start with the very dismal news on the economy. in the last three months of last year, our economy shrunk, contracted at annualized rate of .1%. back then we were staring tax increases in the face. there was the fiscal cliff coming right at us. consumer sentiment was in a tailspin. and weak holiday sales. add it all up, and you have got a contraction of the economy at the end of last year. okay? you've got a contraction. right now, just a few short weeks later, what you've got is a near-record high for the stock market. the dow is closing in on an all-time high. that is because the housing market is recovering. that is still true, despite the slippage in the economy. housing is recovering. most important, ben bern
&d, infrastructure, the sort of things that will grow this economy, the sort of things that are investments in the future that help us grow economically right now. can't we do both, christie? >> i think we have to do both. i think it's certainly what john podesta and the center for american progress have argued for from the beginning, which is a balance add approach. and your point, joe, which is that there's a difference between investment and expense. and those of us who believe government has a critical role to play have to be for smart government. and i think that this election may be something of a turning point in that instead of arguing about whether there is a role for government and whether government is the problem, we now see whether it's around an issue like immigration or whether it's around the fiscal issues, the necessity of looking to government for leadership in terms of what will actually create a fair playing field, and that's about tax reform. that's about a balance between growth-oriented policies and appropriate spending cuts. >> joe? >> you know, there are things, jon
developing this morning, news that the economy unexpectedly contracted in the last quarter of 2012. most of it is a result of weaker expo exports, decreased military spending and other factors. we'll be keeping an eye on the markets this morning to see how they react to this. there was an expectation that there would be some slowdown in the economy, but an actual contraction did catch a bunch of analysts off guard. let's get right to my first reads of the morning. speaking of the economy and jobs, they continue to be issues. the public says they care most about. but it isn't dominating capitol hill. does that change today, by the way? but guns and immigration are taking up most of the political oxygen, just about an hour from now. the next phase of the fight begins on the gun issue. former congresswoman gabrielle giffords returns to capitol hill two years after she was seriously injured in the mass shooting that killed six people in arizona. she will be joined by her husband, mark kelly. they face off with wayne lapierre. it's the first senate hearing on gun violence. >> the only thing t
to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready o with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ but, dad, you've got... [ voice of dennis ] allstate. with accident forgiveness, they guarantee your rates won't go up just because of an accident. smart kid. [ voice of dennis ] indeed. are you in good hands? has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. >>> at the top of the show, we asked you the nonmusical question, why are you awake? i've got one right here somebody tweeted in. lori, very close watcher of the cut-aways on the program, she tweets,@steverattner working diligently on his charts. unfortun
street comes amid disappointing economic news. the u.s. economy slowing signs of slowing down. the government says the economy sharply contracted in the fourth quarter of 2012 growing at only one tent of tenth. they say it is heading to greece on steroids. what is about this last quarter, steve, what caused the shrinkage. >> wall street is doing great, main street isn't doing so well. this new report suggests that this economy still has not really fully recovered from the financial crisis four years ago, in fact the thing that is really disturbing here, jon is the economy has been slowing down over the last six months or so. it's not gaining momentum as you would expect. and so the numbers are just very troubling. the biggest decline, by the way, was in defense spending. the private sector gdp was up a bit, not much about 1.5%. jon: a lot of people who constantly look to cut the defense budget, cut defense spending, chop out this program or that program, this is a cautionary tale. >> look i actually think cutting government spending is good for the economy because it frees up
are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ ♪ [♪ theme music ♪] >> announcer: broadcasting across the nation, on your radio, and on current tv this is the "bill press show" >> bill: president obama now approval rating of 60%. good morning, everybody, great to see you today it is thursday. thursday january 31st. this is the "full court press" how about it? we're coming to you live all across this great land of ours from our studio here on capitol hill, our little radio factory, tv factory book factory, right in the shadow of the capitol dome so we know what is going on here, around the country and around the globe. we'll bring you up to date and give you a chance to sound out about it. you can do so by giving us a
and economy. on the right, it's now complete orthodoxy that do-gooder liberals, especially former representative barney frank, somehow caused the financial disaster by forcing helpless bankers to lend to those people." and they're all so threatening to filibuster the appointment of cordray. they just won't let this newbaunew bureau do its job. they don't want it around. >> this is one that we have to agree with krugman. he's right. the fact is that out of all -- without relitigating how we got into the financial crisis and all the rest of it, the fact is that a lot of bad stuff happened. they set up a consumer financial protection agency in order to protect consumers just the way we have various other agencies that protect consumers from other things. and it was passed in a law. and now the republicans are basically saying we're not going to confirm anybody. and i don't think that's sort of playing fair. >> i saw a piece the other day that talked about -- a conference i think that you were at in washington where bill kristol talked about you've got people looking back at how the r
's paycheck went down as taxes went up. that will take $200 billion out of the economy. now you have got gas prices spiking. that's going to take even more money out of the economy just as the economy starts to slow down and contract. the timing as you said could not be worse. gregg: you are such a kill joy on a monday morning. stu varney. martha: so this spike at the pump appears to be no fluke but a part of an ongoing trend. gas prices have gone up for 18 consecutive days. 18 states have gas prices higher than the national average. they are feeling the pain of that more than the rest of the states. we are just getting started on this monday morning. gregg: ahead. a deadly chain reaction crash involving a tour bus. details on what investigators think went wrong in a live report. martha: president obama in his super bowl interview. he dropped a bit of news. he is pushing once again for increased revenues. there is only one way to get those these days when you have got an economy that's not growing. former president wash adviser karl rove is here with us next. gregg: a little boy in alabama s
in the rewrite. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> and so on this the 46th day since the massacre of 20 first graders and six educators in newtown, connecticut, it has come to this. father of newtown victim heckled at hearing. neil hesslin, whose six-year-old son, jesse, was shot to death at sandy hook elementary school, testifie
to go back and talk to the people be focused on the economy, and he did it and turned it around so i think he will be a very good voice for the middle class, and i think he will do a very good job in the interim. >> jennifer: yes, and you know he is only going in for a short amount of time. >> yeah. and deval patrick is a fantastic person. we worked with him in the justice person. he is a man that understands the people, the real life practical impact of government on people and i love his choice. >> jennifer: i can't wait to see where he goes next. >> yes. >> jennifer: all right you guys thank you for coming in. and coming up if these images right here concern you. just imagine how john kerry feels. the situation in egypt has turned combustible, and >> jennifer: you are back inside "the war room." i'm jennifer granholm. there will be no honey moon for john kerry. he is going to assume his post tomorrow, and he is going to immediately have to deal with several middle east flash points like civil war in syria, iran and its nuclear programs as well as the unrest in eg
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of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> of that rainy day has come. secretary of state hillary clinton is leaving her post tomorrow, and today she will give the gavel, the final speech of sorts to the counsel on foreign relations. she talked about the global challenges facing america and the progress we've made over the past four years. >> what we faced in january of 2009, two wars, an economy in free fall, traditional alliances fraying, our diplomatic standing damaged, and around the world people questioning america's commitment to core values and our ability to maintain our global leadership. that was my inbox on day one as your secretary of state. >> quite an inbox. clinton went on to say since then america has strengthened its standing both at home and abroad. well, tomorrow john kerry will be sworn in as clinton's successor
. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. your doctor will say get smart about your weight. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have six grams of sugars. with fifteen grams of protein to help manage hunger... look who's getting smart about her weight. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. >> i just receive add note i misspoke about the president's position on containment which, obviously, we don't have a position on containment. to make sure, your correction is clear, you do have a position on containment, and that is that we do not favor containment. >>chris: defense secretary nominee chuck hagel struggling in the senate confirmation hearing, when asked of the united states policy on iran's nuclear program. time now for our sunday group, republican strategist,
Search Results 0 to 49 of about 131 (some duplicates have been removed)